The Federal Capital Territory, Abuja has become the leading recipient of foreign capital inflows, commencing from the fourth quarter (Q4) of 2017.

In the first quarter (Q1) 2018, the nation’s capital also overtook with an inflow of $3.54 billion, the National Bureau of Statistics (NBS), has revealed in its ‘Capital Importation (Q1)’ report, which has just been released.

This indicates an increase of 32.24 per cent from the figure recorded in the previous quarter, when it reported $2.68 billion.

At the same time, capital importation to Lagos increased marginally by 4.59 per cent from $2.55 billion in the last quarter to $2.67 billion in Q1, 2018, while Capital Importation to Akwa Ibom was $43.62 million, which is a decline of 65.05 per cent from the figure reported last quarter ($124.85 million).

In contrast, Ogun, Bauchi, and Kano States witnessed strong growth in foreign capital inflow in the first quarter, each recording respective growth rates of 182.06 per cent, 370.59 per cent, and 154.84 per cent on a quarter-on-quarter basis.

The NBS also revealed in its just-released ‘Nigerian Capital Importation (Q1 2018)’ report that the total value of capital imported into the country in the first three months (first quarter) of 2018 stood at $6,303.63 million, representing a 594 per cent increase (year- on–year) from $908.3 million in Q1 2017.

According to the agency, the first quarter in 2018 saw a continuous growth in total capital importation into the country, the fourth consecutive quarterly increase since the second quarter (Q2) 2017.

A breakdown of the Nigerian capital importation by country of origin showed that the United Kingdom (UK) kept its leading role in capital investment in Nigeria in the first quarter of 2018, with $2.25 billion capital invested in the country.

This inflow accounted for 35.73 per cent of the total of capital inflow in Q1,2018, it was also a 39.89 per cent increase from the previous quarter and a growth of 644.55 per cent over the corresponding period of last year.

As well as the existence of a historical relationship between the UK and Nigeria, London (its capital) is also a principal financial centre, which explains the high value of foreign capital from the UK.

Since 2010, the UK has accounted for the highest value of capital importation in all but two quarters (both in the second half of 2015).

Similarly, the second most significant value of capital importation came from the United States, accounting for $1.26 billion in the first quarter of 2018 or 19.99 per cent of the total quarterly capital importation.

The US has also been one of the most important investors in Nigeria, usually either the largest or second largest investor country. The next two largest investors in the first quarter of 2018 were South Africa and Ghana, which recorded $493.22 million and $380.14 million capital inflow into Nigeria in the first quarter respectively.

These two countries’ capital investment accounted for 7.82 per cent and 6.03 per cent of the total quarterly capital importation in Q1 2018.

Capital Importation from South Africa increased by 79.29 per cent from the previous quarter and by 673.19 per cent relative to the first quarter in 2017.

The first quarter in 2018 was the first time since 2013 that Ghana made a significant capital investment in Nigeria, which made Ghana the fourth largest Capital Importation source country for Nigeria in the first quarter of 2018.

According to the NBS, the increase in capital inflow in Q1, 2018 was driven mainly by Portfolio Investment, which grew from $3,477.53 million in the previous quarter to $4,565.09 million, accounting for 72.42 per cent of the total capital importation during the quarter.

Capital importation is divided into three main investment types: foreign direct investment (FDI), portfolio investment and Other investments, each comprising various sub-categories. Since 2017 Q2, portfolio investment has been expanding faster than the other two categories, remaining the largest component of capital imported in Q1, 2018 at 35 percent of total capital imported.

Foreign direct investment and other investment accounted for 3.91 percent and 23.67 percent of total Capital Importation into Nigeria in the quarter under review.

Capital inflow in the form of Shares in the first quarter increased by 3.05 percent from $3.68 billion reported in Q4, 2017 to $3.79 billion in Q1, 2018. This component has recorded a steady rise since the first quarter of 2017, with Q1, 2018 being the fifth quarter of its consecutive rise. The percentage share of Shares investments to total Capital Imported however, decreased from 68.37 percent in the previous quarter to 60.17 percent in the first quarter of 2018.

In the Q1 2018, banking remained the leading sector for foreign capital Inflow which attracted the most considerable amount of capital investment. During the first quarter, $1.18 billion overseas investment flowed to the Banking sector, which accounted for 18.7 percent of the total Capital Importation.

Financing exceeded production, servicing and telecoms sectors to become the second leading sector to receive capital investment, attracting $485.41 million during the quarter. This was followed by the Servicing sector with $328.15 million, Production sector with $144.09 million and Agriculture with $130.90 million.

https://www.google.com.ng/amp/s/www.thisdaylive.com/index.php/2018/05/12/abuja-overtakes-lagos-in-foreign-capital-inflows-2/amp/

We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

Where exactly does the capital flow into?

The guy above me should be on we*d, though

OneCorner:
We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

Fool, u think u make sense with these ur post.
This is temporary, at least all those big company and embassy never move their business to Abuja.

kaorama:
Where exactly does the capital flow into?

I was wondering exactly how the determination is made. Someone pls educate me.

I hope it belongs to Abuja anyway. I heard the capital inflow includes the money sent home by our people who work abroad & others . If it is so, then it is not totally dependent.

Encouraging though....more power to her elbow

well, when the head of almost all NGO is at Abuja, I'm not surprised.

She told me with hot tears running down her cheeks that her mother came to her house fuming.

And in that anger her mother spat out these words.

"Mgbo, you are no longer opening your legs for your husband?"

"Mummy!"

"Don't mummy me."

"Did he come and tell you?"

"No o. You want the poor boy to be suffering in silence se?"

"Ah mummy it is too painful!"

"Pain kini?"

"He is too big."

"Too big? If is bigness that will kill then I would have run away from your daddy."

"Mummy don"t be..."

"Don't be what?"

"He does not even get me ready."

"And your Father gets me ready? You think it is for enjoyment that we lie on our backs? You think you are still doing boyfren and gehfren? Come on go and buy vaseline and start behaving like a married woman."

Lagos.

Seat of corruption.


Not true. 70% of bank deposits is in Lagos. How did Abuja overtake Lagos?

Cool but I doubt this ..

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is it only Lagos and Abuja Nigeria get..... smh

Fluke

OneCorner:
We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

and yet the east is a hell much worst than a sh*t hole, u are a joker

signs that elections is near

kaorama:
Where exactly does the capital flow into?

Abeg ask them.
When all the banks and financial institutions, multinationals and large companies are in Lagos, how can this be ?
This news is untrue.

Please how does that affect the masses, if a state's income is high and the people in dat state is not benefiting, then this is not news. ......
just thinking aloud though

According to the NBS, the increase in capital inflow in Q1, 2018 was driven mainly by Portfolio Investment, which grew from $3,477.53 million in the previous quarter to $4,565.09 million, accounting for 72.42 per cent of the total capital importation during the quarter.

Portfolio investments which has not been implemented. Just written down agreement on paper with no effect on the economy!!

kaorama:
Where exactly does the capital flow into?

Fg

OneCorner:
We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

Do u see Enugu, Imo, Abia or Anambra in d post?

OneCorner:
We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

Did you read at all?

Please where is my state Abia??

Are we still in the Nigerian map??

OneCorner:
We are only showing afonjas our true color and worth.
They should beg us before we put lagos on top

Igbos would rather improve the FDI of Saudi Arabia than the East How pathetic and laughable!

TheAngry1:


Igbos would rather improve the FDI in Saudi Arabia than the East How laughable!

Cc Immhotep lzaa Come hear this one oooo! Wanna-be Lagosians!

IgboBasthard:


Cc Immhotep lzaa Come hear this one oooo! Wanna-be Lagosians!

but but....

The increase in Portifolio investment only indicates foreign investors are trying to diversify there Portifolio by investing in emerging markets. Encouraging increase in foreign direct investment (FDI) should be Nigeria's priority because that is the only capital investment coming into the real economy.

LZAA:

but but....

Self deceit

This will be one of the key objectives of the North during buhari's second term , to move capital inflow and the economics base up Abuja , Lagos might cease to be Nigeria's commercial capital in some few years. it is already happening , i anticipated this from the on start.


The same way they used yorubas to take the federal capital and oil wells from the south , they are using yorubas to take the economy from the south again

nairaman66:


Portfolio investments which has not been implemented. Just written down agreement on paper with no effect on the economy!!

You don't know what a portfolio investment is. That is quite obvious

kettykings:
This will be one of the key objectives of the North during buhari's second term , to move capital inflow and the economics base up Abuja , Lagos might cease to be Nigeria's commercial capital in some few years. it is already happening , i anticipated this from the on start.


The same way they used yorubas to take the federal capital and oil wells from the south , they are using yorubas to take the economy from the south again

Lol. Continue dreaming. Economically, Abuja cannot touch Lasgidi by a foot long pole. I wonder what you will say if the data changes in the next quarter. You better focus on how your region can also rise out of economic doldrums. Lekki and Badagry seaports are coming, Lekki Airport sef, Dangote refinery, Eko Atlantic city. There's no stopping this Lagos train, not to mention the emerging Ogun-Oyo industrial powerhouses. You ain't seen nothing yet bwoy.